We have seen a weekly candle closure above 8EMA also strong bullish engulfing candle from 1.45. Daily MA’s have crossed to the upside, the price is currently trading between daily support and weekly mid-range 1.475. H4 this morning is telling me we could see a revisit of our daily support area. For me this pair is bullish and i am only looking to go long. Entry setup scenarios will be :
- Clean break above 1.475, wait for a PB then entry on continuation pattern
- We can wait for price reversal around daily support areas 1.466 and 1.4588
BE AWARE for high impact news at 14:00 gmt, Draghi speech we could see some volatility.
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